Allowed

Hdfc Bank Ltd., v. Satu Krishna

DRT15 Apr 2024OA/748/2023

Case brief

AI extract

What is this about?

In an original application for debt recovery, the Tribunal allowed the bank's claim for Rs. 28,56,218.84 with interest against the two defendants, finding them jointly and severally liable based on ex-parte evidence.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 28,56,218.84 with 10.50% p.a. interest; claim secured by hypothecated vehicle; entitlement to proceed against person and properties for recovery; cos

Hdfc Bank Ltd., versus Satu Krishna — DRT (2024) — LawSathi Research

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 1sth DAY OF APRIL, 2024

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PRESENT: SH, MI\4ESHWAR KOTHE, B.Com, L.L.B. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No. 748 OF 2023

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H.D.F.C. Bank Ltd. H.No.1-10-60/3, 3'd Floor, Suryodaya Complex, Opp. Shoppers Stop, Begumpet, Hyderabad-500016 Rep by its lvlanager- Lega I ...........Applicant.

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Versus

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1.	SatuKrish na S/o.SatuNarsimha Age:40years;Occ:Business, H.No.18-9-9/10/C,KesovGiri, ChandrayanGutta,Near lndianOil PetrolBunk, Hyderabad,Telangana-500005.
2.	SatuNeelamma W/o. SatuNarsimha
	Age:57 years,Occ:Business, H.No.18-9-9/10/C,KesovGiri, ChandrayanGutta,Near IndianOil PetrolBunk,
	Hyderabad,Telang an a-500005. Defendants.
	CounselfortheApplicant:lvlr.N. Sudarshan
	Defendants :Ex-parte.

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ORDER

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The Applicant Bank filed the present OA for the recovery of a sum of Rs.28,56,278-84ps jointly and severally from the defendants together with interest @10.51o/o p.a. with monthly ffv*rtr

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oA.NO.748l2023

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rests from the date of application till the date of realisation along with costs and sale of OA schedule hypothecated vehicle.

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Summons served on D1 and 2. They were set ex-parte on 20.11.2023, as called absent and no representation.

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The Applicant Bank examined Nikhila Yedla, Manager-Legal as AW-1 and marked 6 documents through her as Ex. A.1 to Ex.A.6.

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Learned Counsel for the applicant bank reported orders may be passed on merits. Perused the material placed on record.

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The point that arises for consideration is:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA Schedule hypothecated vehicle?

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As stated supra, defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. 41 to 4.6 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.748/2023 is allowed as under: -

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i) the defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.28,56,218.84ps with future interest OY*"t

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oA.NO.748l2023

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@10.50o/o^p.a. simple from the date of application i.e.,19.08.2023 till the date of realization;

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ii) the OA claim is secured by way of hypothecation of vehicle described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same for recovery of its dues;

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iii) the applicant bank is also entitled to proceed against the person and properties of the defendants for realization of its dues; and

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iv) the applicant bank is entitled for the costs.

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B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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q Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the^parties concerned. dayorAprir,2o24). (Dictated to the steno, signed and pronounced by me in the open court on this the 15th

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/n|ry}ufi (/ (RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Satu Krishna

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Satu Krishna

Case brief

What is this about?

What did the court decide?

What the court decided

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